Problem 6-08A a1-a2 (Part Level Submission)

Swifty Inc. is a retailer operating in British Columbia. Swifty uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Swifty Inc. for the month of January 2020.

Problem 6-08A a1-a2 (Part Level Submission) Swifty Inc. is a retailer operating in British Columbia. Swifty uses the perpetual inventory method. All sales returns from customers result in the goods being returned to inventory; the inventory is not damaged. Assume that there are no credit transactions; all amounts are settled in cash. You are provided with the following information for Swifty Inc. for the month of January 2020. Unit Cost or Selling Price Quantity 100 Date January January January January January January January January 1 5 8 10 15 16 20 25 Description Beginning inventory Purchase Sale Sale return Purchase Purchase return Sale Purchase (a2) x Your answer is incorrect. Try again. For each of the following cost flow assumptions, calculate cost of goods sold, ending inventory, and gross profit. (1) LIFO. (2) FIFO. (3) Moving-average cost. (Round average-cost per unit to 3 decimal places, e.g. 12.502 and final answer to o decimal places, e.g. 1,250.) LIFO FIFO Moving-average X Cost of goods sold 3875.00 Ending inventory 1426.00 Gross profit Click if you would like to Show Work for this question: Open Show Work LINK TO TEXT Attempts: 1 of 5 used